Eli Lilly & Co. reported Tuesday net income of $555.6 million, or 53 cents a share, down from $778.0 million, or 73 cents a share, in the same period a year ago. Excluding non-recurring items, including asset repairment charges and acquired in-process research and development charges, adjusted earnings per share came to $1.05, above the FactSet consensus of $1.03. Revenue rose 9% to $5.66 billion from $5.19 billion, beating the FactSet consensus of $5.52 billion, as revenue from its diabetes products collectively grew 39%. Among the drug maker’s biggest drug sellers, sales of Humalog, Alimta, Cymbalta and Zyprexa beat expectations, while Cialis sales fell short. The company raised its 2017 adjusted EPS outlook to $4.15 to $4.25 from $4.10 from $4.20. The stock, which was still inactive in premarket trade, has gained 2.9% over the past three months, while the SPDR S&P Pharmaceuticals ETF fell 3.9% and the S&P 500 has gained 3.9%.
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